Business Ethics and the Global Dimensions of Business Essay

Business Ethics and the Global Dimensions of Business - Essay Example Many businesses are targeting the real estate market of both India and China (Plunkett Research, 2011). The Asian markets are a great target, but the company has to select its location carefully and expand slowly to minimize business risk. I do not recommend a full expansion plan into Asia because they are a lot of countries in Asia that are extremely poor with a lack of economic resources. A country that must be an immediate target for the company is the island of Japan. Japan eight months ago was hit by the fourth biggest earthquake in the world’s history; a massive 8.9 richer scale earthquake (CountryWatch, 2011). As a construction company the firm can capitalize on the natural disaster to profit in the short and medium term. There should be plenty of construction projects in Japan for the next five years. The firm should seek a horizontal growth expansion plan. This plan works best if the country selects locations that have a high demand for the service the industry offers . Emerging economies typically have plenty of construction projects available since better infrastructure is needed to achieve social progress. Asia is the world’s largest continent with an area of 17.3 million square miles (CultureGrams, 2011). ... The two most practiced religions are Buddhism and Muslim. People in Asia are disciplined and believe in the common good of the group. Socialism is widely practice throughout Asia. The eastern economic region is one of the fastest growing regions in the world. Eastern Asia is composed of the following countries: 1. China 2. Japan 3. North Korea 4. South Korea 5. Mongolia 6. Taiwan China has been the fast growing economy during the past three decades reaching yearly GPD growth of approximately 9%. The income per capital in China is one the rise. In 2008 the real gross domestic product of China was $7,600. That number is relatively high since the prices of goods in China are similar to the prices Americans paid during the 1950’s. China is the most populated place in the world. XYZ could promote housing projects of very tall building in order to optimize their real estate capacity per square feet of land. The real estate markets in China are extremely favorable due to a rising mid dle class that is looking to upgrade their current living accommodations. India has also become a hotspot for business due to the high quality of labor at affordable prices (Plunkett Research, 2011). There are ethical issues that should be considered when entering the Asian markets. Corruption is widespread across many governments in Asia. Executives have to make tough decisions whether to participate in what would be considered unethical behavior in the United States due to the difference in business customers and overall cultural factors. Bribes are not considered the same in China than in the United States since Chinese culture on many instances accepts bribe as normal behavior of doing business. There is also the consideration of labor laws. Labor laws in many emerging economies